[QUOTE=Boomer;2213972]Yep. One day I was having lunch with Mr. Boomer in my favorite back home restaurant. (Trio — for those of us from my hometown.
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Anyway, in the booth across from us was an older woman who was being double-teamed — not just one, but two annuity salesmen.
This was several years ago and I did not yet have silver hair, but she did. I could hear enough of the conversation to figure out she had been widowed and probably had been left in good financial shape but did not know what to do with what she had.
Mr. Boomer saw me tuning into that conversation. (Yes. I was eavesdropping but I could not help it. I accept it as my curse/gift to be able to filter conversations while still carrying on a conversation of my own.)
It was all I could do to restrain myself from moving over to sit next to her, across from those 2 “charmers” sitting opposite her in that booth and laying it on thick — with words like “guaranteed” and phrases like “no more worries.”
My skin was crawling and being who I am, it was really hard to keep myself from intervening.
(In my hometown, there are a lot of people who have worked for and have long held stock in a local behemoth that has been belching out dividends for over 100 years and has increased that dividend annually, consecutively, for almost as many years as I have been alive. Annuity salesmen just love to get their hands on those shares and they often do.)
For years, every time I have heard a woman say, “Oh I don’t know anything about all that stuff. HE takes care of it for us,” I want to scream…….
Boomer[/QUOT
When those sales people were talking to me, it made my skin crawl too. I just knew it wasn't in my best interest even though i knew nothing about annuities. Of course i read more after that, plus i talked to people here. The real tip off was i couldn't read the contract until after signing. What's the dealo with THAT!?!
Ive been doing my own investing for 15 years, inside of an IRA. This is a new ball game outside of an IRA.....its blowing my mind that what i earn each year can be taxable income.
My fiduciary drilled that into my head. Its been a learning year!
Plus with Medicare and SS around the corner, decisions decisions, decisions ....